BANK OF AMERICA

Investor Relations

Bank of America Declares Quarterly Dividend on Series L Preferred Stock

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CHARLOTTE, N.C., Sept. 16 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors authorized a regular quarterly dividend of $18.1250 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on October 30, 2008 to shareholders of record as of October 1, 2008.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

http://www.bankofamerica.com

SOURCE Bank of America

CONTACT:
Investors May Contact: Kevin Stitt, +1-704-386-5667,
Lee McEntire, +1-704-388-6780,
or Leyla Pakzad, +1-704-386-2024,
all for Bank of America,

Reporters May Contact: Scott Silvestri of Bank of America,
+1-980-388-9921, scott.silvestri@bankofamerica.com